MODULE 2 notes.doc

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School

Ryerson University

Department

Marketing

Course

MKT 100

Professor

Caitlin Mc Laughlin

Semester

Winter

Description

MODULE 2 SECTION 1ANALYZING COMPETITIONno competitionsingle supplier that has control over price quantity and quality of productoligopolistic competitionfew large suppliersie Detergent air craft peopleevolve in industries that need huge investmentssuppliers compet on price product features advertising and special promotionsmonopolositic competitionmany suppliers with variety of products and each with a small market loyal share lot of products and service differentiationperfect competition all suppliers sell same productssupply and demand control pricedefine competition by asking who are our major competitors who has what share of sales in given marketdefine the marketMarket share is measured as a companys percentage of total industry sales over a specified time periodA companys market share can change dramatically depending on how the market is defined In practice the market is normally specified by a realistic assessment of company resources and by company growth objectivesCompetitorresearch efforts seldom require defining market share down to the last share point a share point is 1 percent of market share because defining the exact bounds of the market is rarely that preciseOther indicators of change in future sales profits and competitivenessBrand Mind share